Life sciences investors pumped around $15 billion into 175 biotech, medtech and diagnostics firms that went public during the 2014–16 IPO window. To understand what may be in store for those firms and their backers, In Vivo reexamines the fate of a previous generation of companies, the IPO Class of 1997.

It's no secret increasing generic competition and regulatory oversight, combined with the financial challenges of developing a primary care drug, make cardiovascular a tough place for venture-backed biotechs. START-UP takes the pulse of four previously profiled cardiovascular companies -- arca Biopharma, Celladon, NovaCardia and Portola Pharmaceuticals, -- to see what lessons they've learned.

Onyx Pharmaceuticals (US) has appointed Dr Ted Love executive vice-president and head of R&D. Dr Michael Kauffman, who has been interim chief medical officer since November 2009, becomes chief medical officer, reporting to Dr Love. Most recently, Dr Love served as president, CEO and chairman at the biotechnology company Nuvelo. Before that, he was senior vice-president of development at Theravance.

Biocompatibles has re-invented itself a third time, exiting traditional device markets for riskier drug-device convergence plays in oncology and stroke, clinical areas dominated by drug therapy. This move has caught drug companies' attention clinically, but will Big Pharma validate Biocompatibles' strategy commercially?